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Macarthur Moonshine Magnetite Resource Upgrade
Macarthur Moonshine Magnetite Resource Upgrade.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \n \n RNS Number : 9067V\n Cadence Minerals PLC\n 12 August 2020\n \n \n \n \n Cadence Minerals Plc\n \n \n (\"Cadence Minerals\", \"Cadence\" or \"the Company\")\n \n \n \n \n \n Macarthur Minerals (TSX-V: MMS) (ASX: MIO) Moonshine Magnetite Resource Upgrade.\n \n \n \n \n \n Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the \"Company\" or \"Macarthur\") has presented an updated Mineral Resource estimate for the magnetite deposits at its Lake Giles Iron Project in Western Australia, which has been completed by CSA Global Pty Ltd (CSA Global).. \n \n \n \n \n \n Highlights:\n \n \n · \n RCR Mining Technologies (subsidiary of NRW Holdings ASX: NRH) appointed to examine rail unloading infrastructure solution at Esperance Port\n \n \n · \n Macarthur Minerals announces a resource upgrade for the Moonshine magnetite deposit at Lake Giles\n \n \n · \n Measured Mineral Resource of approximately 53.9 Mt and Indicated Mineral Resources of 218.7 Mt\n \n \n · \n Macarthur now has sufficient resources in the appropriate categories to progress its Feasibility Study\n \n \n · \n Resource upgrade follows recently announced Proposal for development of a Commercial Track Access Agreement received from Arc Infrastructure and the announcement of plans to develop haul road and rail siding infrastructure near Lake Giles\n \n \n \n \n \n The previous Mineral Resource estimates presented to the market between 2009 and 2019 consisted entirely of Inferred resources, including 710 million tonnes (\"Mt\") at the Moonshine deposits. During 2019 the Company completed a program of infill drilling across some of the Moonshine deposit to upgrade the Mineral Resource category to include Indicated and Measured resources. The Mineral Resource upgrade has delivered sufficient resources in the appropriate categories to underpin the current Lake Giles Iron Project Feasibility Study.\n \n \n \n \n \n The updated Mineral Resource estimates incorporate the recent drill assays and has resulted in an increase in the size of the Moonshine mineral resources including resource category upgrades to now include Measured and Indicated resources. Approximately 30% of the Moonshine resource is now classified as Indicated with approximately 7.5% classified in the Measur...